Bonfida/Tether USDt Market Overview (FIDAUSDT) – 24-Hour Analysis (2025-09-10)

• Price rose 6.23% in 24 hours with a strong close near the high.
• Volatility increased as price moved above key resistance and expanded above Bollinger Bands.
• MACD turned positive, RSI crossed 60, suggesting bullish momentum.
• Notional turnover surged in late ET hours, confirming the upward move.
• A potential 15-minute bullish engulfing pattern formed during the afternoon ET.

Bonfida/Tether USDt (FIDAUSDT) opened at $0.0886 on 2025-09-09 at 12:00 ET, reached a high of $0.0924, and closed at $0.0901 by 12:00 ET on 2025-09-10. The 24-hour volume amounted to 30,638,564.3 units, with total turnover reaching $2,760,123.04. Price action showed a clear upward bias driven by strong volume in the early morning ET.

Structure & Formations

Price tested and broke through a 15-minute resistance level near $0.0898 before forming a bullish continuation pattern. Notable formations include an engulfing candle in the late afternoon ET and a potential 15-minute continuation pattern in the morning. A bearish divergence in the morning ET failed to hold as the price resumed higher after a consolidation phase. A key support level appears to be forming around $0.0885–0.0888, while the $0.0900–0.0904 area acted as a consolidation zone before the breakout.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA in the early morning ET, confirming a bullish bias. The 50-period MA on the daily chart has moved into a rising trend, supporting the longer-term uptrend. The 200-period MA is a distant support at around $0.0875, which remains untouched for now. The 100-period MA also turned upward in the last 48 hours, suggesting medium-term bullish momentum.

MACD & RSI

The MACD on the 15-minute chart turned positive in the late morning ET, with the histogram showing a strong bullish expansion. RSI crossed above 60, indicating overbought conditions but not yet reaching 70, suggesting momentum is still in favor. RSI may consolidate in the 60–65 range in the next 24 hours unless further volume confirms a breakout.

Bollinger Bands

Volatility expanded significantly in the early morning ET as price moved above the upper band of the Bollinger Bands, indicating a strong breakout. The bands themselves have widened from $0.0888 to $0.0916 in the last 6 hours. Price has remained within the bands for most of the day, but the recent move above the upper band suggests a potential continuation. A retest of the lower band at $0.0894–0.0896 could occur before the next directional move.

Volume & Turnover

Volume spiked sharply in the early morning ET, coinciding with the breakout above $0.0898. Notional turnover reached a 24-hour peak at $150,000 in the 3:00–3:15 AM ET period. The volume in the last 8 hours has averaged $22,000–30,000 per hour, which is significantly higher than the previous 16 hours. A slight divergence is noted in the late evening ET, where volume dipped despite a modest price increase, but it has since been confirmed by stronger volume in the early morning.

Fibonacci Retracements

On the 15-minute chart, a key 38.2% retrace level was tested near $0.0893 and failed, leading to a breakout above 61.8% at $0.0908. Price is currently hovering near 78.6% at $0.0916. On the daily chart, the 61.8% level from the recent consolidation is at $0.0900–0.0904, aligning with the current support zone. A potential retest of this level or a move above the 78.6% extension could signal the next phase of the move.

Backtest Hypothesis

The backtesting strategy in question is based on a combination of RSI overbought/oversold levels, MACD crossover signals, and Bollinger Band breakouts. A potential rule-based strategy could include: entering a long position when RSI crosses above 50, MACD turns positive, and the price closes above the upper Bollinger Band. A stop-loss could be placed at the recent 15-minute support level at $0.0885–0.0888. This strategy would have captured the morning ET breakout and held through the consolidation and further rally into the early morning. Given the current setup, a similar strategy may provide a high-probability entry point with defined risk levels.